Expat Community > Indonesia

JStew5
Joined 2008
Posts: 1

Mortgages in Indonesia

16 years ago

My wife is Indonesian. Her brother asked us for a loan. He says he needs the loan because he wants to sell his house. He says that he still owes the builder the amount he wants to borrow from us. He says he can't get title and therefore can't sell until he pays this amount in full. He says that once he sells the house, he will have more than enough to pay us back. (He already has another house that he'll live in after the sale of the first.)
I don't understand this. In the United States houses that still have unpaid mortgages are sold all of the time. The mortgage is paid off first and anything left over in the purchase price goes to the seller. Why can't he do this?
My wife won't explain because she is upset that I am even questioning this. She just says that this is the way it is in Indonesia. She says noone will buy a house from you until you have 100% clear title. She beleives that when family asks for a loan, you loan the money. It angers her that I hesitate to do this.
Does her brother sound reasonable? Is this how things are in Indonesia?

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Expat Community > Indonesia

Mortgages in Indonesia

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